What are the advantages of integrating ERM with strategy and strategy execution as described in this case? How does scenario analysis as described in this case help an organization to prepare for uncertainties? What are the advantages of using the PAPA model to categorize risks? How would you describe the “Strategic Risk Management Return on Investment” at LEGO?

Strategic Planning & Organisational Structures   A small sized construction company in Albany has been significantly impacted by the recent Covid19 restrictions and the company is struggling to stay afloat. The company is aware that to continue doing business, there is a need to interest one of a number of NZ construction companies that might see the mutual benefit of partnering or aligning with this company to complement each other’s strengths.   If you were in charge of strategic planning for this company, what actions would you take? Use a relevant theory to support your actions.

Management  Effective planning is the compass that navigates the course of success in any endeavor. It's the meticulous process of outlining objectives, envisioning strategies, and organizing resources to achieve a desired outcome. Whether in personal aspirations or professional pursuits, a well-crafted plan serves as a roadmap, providing direction, structure, and clarity amidst uncertainty. It involves assessing risks, anticipating challenges, and devising contingencies to adapt to unforeseen circumstances. Ultimately, planning isn't just about setting goals, it's about orchestrating the steps needed to turn those goals into reality. How do you prioritize tasks when planning to ensure that the most important ones get the attention they deserve?

Scenario:John is an infrastructure engineer who worked with the Cisco Systems software company forover 10 years. John is thinking about starting a new business where he will develop computerprograms for educational needs. He has always had entrepreneurial tendencies and has gainedgreat success in the past. He is having doubts and have hired you as a consultant to aid in guidinghis decision. He understands that the technology market is very competitive but believes thatthrough hard work and dedication he can reap success.   You are required to discuss with John, as addressed in the course, three (3) main categories ofcreativity techniques and their application to entrepreneurial opportunity identification anddevelopment. You must incorporate at least two (2) examples for each main category and analyzehow these tools can be useful to John as an entrepreneur or any potential entrepreneur.